Resona Asset Management Co. Ltd. Makes New $1.06 Million Investment in Urban Edge Properties (NYSE:UE)

Resona Asset Management Co. Ltd. acquired a new position in Urban Edge Properties (NYSE:UE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 49,557 shares of the real estate investment trust's stock, valued at approximately $1,060,000.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Urban Edge Properties by 1,499.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust's stock valued at $34,216,000 after purchasing an additional 1,499,628 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Urban Edge Properties in the fourth quarter worth $27,584,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in Urban Edge Properties by 718.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 447,487 shares of the real estate investment trust's stock worth $9,621,000 after buying an additional 392,820 shares during the period. Norges Bank bought a new position in Urban Edge Properties during the fourth quarter valued at $6,697,000. Finally, American Century Companies Inc. lifted its holdings in shares of Urban Edge Properties by 19.4% in the 4th quarter. American Century Companies Inc. now owns 1,789,168 shares of the real estate investment trust's stock worth $38,467,000 after acquiring an additional 291,125 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Up 1.2 %

Shares of UE stock traded up $0.21 during mid-day trading on Tuesday, hitting $17.58. The stock had a trading volume of 712,001 shares, compared to its average volume of 910,004. Urban Edge Properties has a 12-month low of $13.34 and a 12-month high of $23.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. The firm's 50-day moving average is $19.25 and its two-hundred day moving average is $20.85. The firm has a market capitalization of $2.21 billion, a P/E ratio of 29.80 and a beta of 1.28.

Remove Ads

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.25. Urban Edge Properties had a net margin of 16.31% and a return on equity of 5.59%. On average, analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.32%. This is a positive change from Urban Edge Properties's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Urban Edge Properties's dividend payout ratio is presently 128.81%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Evercore ISI decreased their price objective on shares of Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating for the company in a report on Tuesday, December 24th.

About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.